Vancouver Real Estate Blog

Laneway Housing - City of Vancouver

In July 2009 Laneway (or Coach) Housing was approved by the City of Vancouver under their EcoDensity Initiative.

Available to RS-1 and RS-5 single-family zones on lots 33′ or wider, you can now build 500 – 750 sf of lane-facing housing. This is in addition to an in-house secondary suite, and to the provision of a single on-site parking space.

If you are interested in looking into adding a Laneway House on your property, you can  contact the City of Vancouver Enquiry center at 604-873-7613  to confirm whether or not your particular lot is eligible.

For more information, visit EcoDensity Laneway Housing.

Vancouver Changes Area Boundaries in False Creek, Yaletown

On Thursday, June 16, new sub-area boundaries were implemented for the False Creek area of downtown Vancouver. Specifically, the 'False Creek North' sub-area will be expanded and renamed 'Yaletown,' and the 'False Creek' sub-area will be expanded to include the area around Olympic Village.

These changes can be viewed by clicking here

Vancouver Real Estate City Hall Says NO To A $500 Million dollar Casino Expansion

Vancouver City Hall Council has killed a proposal to build an expanded new casino downtown, saying it doesn’t fit the city’s image and brand.

Mayor Gregor Robertson led the way before the unanimous decision, saying: “Enabling the largest casino in western Canada in our downtown doesn't fit with Vancouver's global brand as the world's most livable city, the Green Capital, and hotbed for innovation from clean and digital technology to resource management.”

The decision finishes off a proposal to build a $500-million casino complex that would have been the largest in western Canada, with 1,500 slots and 150 tables, along with two hotels and a cluster of bars and restaurants. http://www.theglobeandmail.com/news/national/british-columbia/bc-politics/vancouver-rejects-casino-proposal/article1991813/

City of Vancouver Controvery over the new Proposed $450 Million Casino

Business in Vancouver (BIV) is reporting that their are approximately 10 new towers proposed for development in the northeast section of False Creek which is being side lined as the casino project is getting all the attention.

In the report Franesco Aquilini the Principal of Aquilini Group told BIV, "that he wants to build his proposed towers regardless of whether or not the casino gets approval". Another catch to this is proposal is in exchange for his towers being approved he is proposing to partner with Canadian Metropolitan Properties (CMP) to build a $50 Million practice facility for the Vancouver Canucks on land that is currently the Plaza of Nations and owned by CMP.

To read more on this story visit www.biv.com issue1113

Deferring taxes Property Taxes

The BC Government helps property owners who are unable to pay annual property taxes and are at risk of losing their homes. After deducting the Home Owner Grant, home owners can postpone paying all or part of the unpaid balance of their residential property taxes if they qualify for one of three low-interest tax deferment assistance programs.

Property Tax Deferment Program for seniors: property owners aged 55+, a surviving spouse or a person with a disability who are Canadian citizens or permanent residents under the Immigration Act (Canada) may qualify if they maintain a minimum equity of 25% of the current assessed value as determined by BC Assessment, if they have lived in BC for one year, if they occupy their home as a principal residence, and maintain a fire insurance policy on their home.

Financial Hardship Property Tax Deferment Program: low-income property owners with least 15% equity in their home who are Canadian citizens or permanent residents and have lived in BC for at least one year and occupy the home as a principal residence, may qualify.

Property Tax Deferment Program for Families with Children: qualifying home owners financially supporting a dependent child under age 18, who have at least 15% equity in their home, are Canadian citizens or permanent residents and have lived in BC for at least one year and occupy the home as a principal residence, may qualify.

Vancouver most liveable city in the world. Ranks number one.

Vancouver has once again been rated the most livable city in the world, topping 140 cities, according to a survey from the Economist Intelligence Unit.The annual survey scores cities worldwide from 0 - 100 based on 30 factors grouped in broad areas such as infrastructure, the environment, culture and education. How do we rate number one, year after year? Property taxes and what they pay for have a lot to do with it.

Think about our great infrastructure, our award-winning libraries and recreation facilities, playing fields and cycling paths, our abundant parks and green spaces, our well maintained road surfaces, and our new police officers and firefighters. Taken together, these add up to a high quality of life in Metro Vancouver.

Read the Economist Intelligence Unit livability study at: www.economist.com/blogs/gulliver/2009/06/liveable_vancouver

Vancouver's West Vancouver legalizes secondary suites

March 1st 2010 Vanvouver's District of West Vancouver made the estimated 3000 secondary suite legal subject to District Zoning Bylaws. The new guidelines and regulations are located in Zoning Bylaw 2200, Section 31-109.

Quarterly reports which lists the number of new suites applying for and approved and the number of existing suites legalized and approved and their addresses can be found here. www.westvancouver.ca/uploadedFiles/Your_Government/Agendas_and_Minutes/2010/May/10may03-7.PDF

Property owners must apply for a business license and pay a fee of $250. October 1st 2010 the fee goes up to $400. If a homeowner does not comply with the zoning bylaw requirements they can face fines of up to $300 a day. A Secondary Suite Business License Application is available at: http://westvancouver.ca/uploadedFiles/Bylaws_and_Licenses/Permits_and_Licenses/SECONDARY_SUITE_LIC_APPLICATION.PDF

An FAQ sheet is available at: http://westvancouver.ca/uploadedFiles/Bylaws_and_Licenses/Permits_and_Licenses/FAQ_S_FOR_SECONDARY_SUITES.PDF

A Secondary Suite Business License Application is available at: http://westvancouver.ca/uploadedFiles/Bylaws_and_Licenses/Permits_and_Licenses/SECONDARY_SUITE_LIC_APPLICATION.PDF

Canada'a largest outdoor pool "Kitsilano Pool" opens today

The Kitsilano Pool opened today. This pool is one of the largest outdoor pools in the world and is Canada's largest outdoor pool. It is 137 meters long and sits along the famous Kits beach. Today, while swimming I could see the local hills covered in snow and hundreds of sailors out enjoying their long Victoria Weekend on their boats. It was great to get back into the water. I have another three and a half months of swimming ahead.

To read more about the Kitsilano Pool click below.

http://vancouver.about.com/od/sportsrecreation/p/kitspool.htm

Average price across Canadian cities.

Each month, The Canadian Real Estate Association compiles the statistics of existing homes and properties sold through the Multiple Listing Service®. This provides an overview of the existing housing market in Canada, and tracks market trends for prices and properties sold.

The detailed reports are available to REALTORS® to help in market analysis. This map will show what the latest statistics for major markets across Canada, based on the MLS® reports provided by local real estate Boards. By dragging your mouse across a specific city, the latest average price will appear. The latest news release dealing with our MLS® statistics is available in the Media Center web page.

http://www.crea.ca/public/news_stats/statistics.htm

Vancouver - Top 10th reason why I love to live in Kitsilano - False Creek

Vancouver is blessed with it's beautiful surroundingsIn the last 2 weeks, I have had the pleasure of walking around False Creek. After the Vancouver Sun Run May 9th 2010, which has a finish line at GM Place. I walked around the east end of False Creek by Science World, through the Olympic Village, by Monk McQueens and along the board walk all the way back into Kitsilano. The entire waterfront is now all connected. Miles of miles of ocean front parks, restaurants, yacht clubs, water parks, beaches and views. Their is so much to do and see in False Creek you need a couple of days just to accomplish it.